Investments and Advances (Tables)

12 Months Ended

Dec. 31, 2022

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Equity in earnings, together with investments in and advances to companies accounted for using the equity method and other investments accounted for at or below cost

Equity in earnings, together with investments in and advances to companies accounted for using the equity method and other investments accounted for at or below cost, is shown in the following table. For certain equity affiliates, Chevron pays its share of some income taxes directly. For such affiliates, the equity in earnings does not include these taxes, which are reported on the Consolidated Statement of Income as “Income tax expense.”

Investments and Advances					Equity in Earnings
	At December 31				Year ended December 31
	2022		2021		2022		2021		2020
Upstream
Tengizchevroil	$	26,534	$	23,727	$	4,386	$	2,831	$	1,238
Petropiar	—		—		—		—		(1,396)
Petroboscan	—		—		—		—		(1,112)
Caspian Pipeline Consortium	761		805		128		155		159
Angola LNG Limited	1,963		2,180		1,857		336		(166)
Other	1,938		1,859		255		187		137
Total Upstream	31,196		28,571		6,626		3,509		(1,140)
Downstream
Chevron Phillips Chemical Company LLC	6,843		6,455		867		1,842		630
GS Caltex Corporation	4,288		3,616		874		85		(185)
Other	2,288		1,725		224		220		223
Total Downstream	13,419		11,796		1,965		2,147		668
All Other
Other	(5)		(10)		(6)		1		—
Total equity method	$	44,610	$	40,357	$	8,585	$	5,657	$	(472)
Other non-equity method investments	628		339
Total investments and advances	$	45,238	$	40,696
Total United States	$	9,855	$	8,540	$	975	$	1,889	$	709
Total International	$	35,383	$	32,156	$	7,610	$	3,768	$	(1,181)

Summarized financial information on a 100 percent basis for all equity affiliates as well as Chevron's total share, which includes Chevron loans to affiliates

The following table provides summarized financial information on a 100 percent basis for all equity affiliates as well as Chevron’s total share, which includes Chevron’s net loans to affiliates of $4,278, $4,704 and $5,153 at December 31, 2022, 2021 and 2020, respectively.

	Affiliates						Chevron Share
Year ended December 31	2022		2021		2020		2022		2021		2020
Total revenues	$	100,184	$	71,241	$	49,093	$	48,323	$	34,359	$	21,641
Income before income tax expense*	23,811		15,175		5,682		10,876		6,984		2,550
Net income attributable to affiliates	19,077		12,598		4,704		8,595		5,670		2,034
At December 31
Current assets	$	26,632	$	21,871	$	17,087	$	11,671	$	9,267	$	7,328
Noncurrent assets	101,557		100,235		97,468		46,428		44,360		43,247
Current liabilities	16,319		17,275		12,164		7,708		7,492		5,052
Noncurrent liabilities	22,943		24,219		25,586		5,980		5,982		5,884
Total affiliates’ net equity	$	88,927	$	80,612	$	76,805	$	44,411	$	40,153	$	39,639

* Chevron’s net income attributable to affiliates is recorded in the company’s before-tax consolidated earnings in accordance with U.S. Generally Accepted Accounting Principles. The total income tax expense recorded by the company’s equity affiliates in 2022 was $4,734, with Chevron’s share being $2,281.